Reykjavík
9°C
SSE

Business

Glitnir

Íslandsbanki to be State-Owned

The creditors of Glitnir Bank have proposed to relinquish all of Glitnir’s holdings in Íslandsbanki LTD to the State as part of their stability contribution.

Þorsteinn B. Friðriksson, CEO of Plain Vanilla.

British ITV to Air QuizUp

The British television station ITV has decided to purchase quiz shows based on the video game QuizUp, created by Icelandic company Plain Vanilla.

Whaling boats Reykjavík

Whaling Season Concludes in Iceland

The 2015 commercial whaling season, which began last spring, has come to an end with the catch totaling 184 whales. Quotas were issued for two species of whale: fin whales, the meat of which is intended for export, and minke whales, which are consumed domestically.

Money - Icelandic Króna

Creditors Will Pay ISK 120 Billion

At a meeting in Harpa concert hall today, the creditors of Kaupþing Bank agreed to pay ISK 120 billion (USD 937 million, EUR 839 million) in stability contribution in order to be exempt from capital controls.

Money - Icelandic Króna

Inflation Goes Down

The 12-month rate of inflation in Iceland now measures 1.9 percent, according to Statistics Iceland.

Money - Icelandic Króna

Optimism and Upswing in All Sectors

Business directors’ assessment of the current employment situation is similar to what it was at the beginning of the financial boom in 2004, and their forecast for the next six months is better than what it was during the boom, between 2004 and 2007.

WOW air Owner Investing Millions

Títan Investments, a company solely owned by WOW air CEO Skúli Mogensen, increased its share in the budget airline by ISK 655 million (EUR 4.5 million/USD 5.2 million) in December 2014.

Money - Icelandic Króna

Icesave Dispute “Over”

Prime Minister of Iceland Sigmundur Davíð Gunnlaugsson has declared that the long-running Icesave dispute with the UK and the Netherlands is now officially over—taking the opportunity to congratulate Icelanders on a complete victory.

Icelandic Bank Welcomes Refugees

The analysis department at Arion Bank has released a report saying that welcoming a large number of refugees to Iceland would be a very extensive and expensive project, but that the long-term economic effect would be a positive one—adding that there is little to suggest that the move would cause...

Fishing boats in Patreksfjörður

Russian Sanctions Damage Report Released

Fishermen and fisheries workers look set to lose between ISK 990 million and ISK 2.5 billion per year (EUR 6.9-17.3 million/USD 7.8-19.7 million) as a result of the trade sanctions levied against Iceland by Russia. Ten communities will be particularly badly hit by the trade ban, according to the...

Money - Icelandic Króna

Icelanders Own ISK 32 Billion on Tortola

At the end of 2014, more than six years after the financial crisis, Icelanders still possessed ISK 31.6 billion (USD 247 million, EUR 219 million) in the British Virgin Islands, and almost solely on the island of Tortola, according to new figures from the Central Bank of Iceland

Pages